Wilbur Ross, a billionaire investor who has a history of reviving dying companies, will be named Donald Trump's Commerce secretary, two sources tell CNN.

The Commerce secretary position, subject to Senate confirmation, serves as the White House's go-between with business leaders. Ross's nomination is expected to be officially announced Wednesday as part of an economic team rollout with Steve Mnuchin as treasury secretary.

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Worth nearly $2.9 billion according to Forbes, Ross was an early supporter of Trump and a member of his economic policy team during the presidential campaign. Since 2000, he's led the investment firm WL Ross & Co. and was head of Rothschild Inc.'s bankruptcy practice for 25 years before that.

Ross has history in the coal and steel industries -- two areas Trump promised to resurrect while on the campaign trail.